Well I shared your concern ,this is a very difficult paper indeed and I did managed to get through this paper at the 4th attempt in Dec'14.
Here is the key:
Tip No1 - "learn to move on very quickly" when you believe you cannot answer any part of a question don't be afraid to do this, the reason for this is because there are easy marks to be picked up ahead. Question1 is designed to bug you down and most candidates spend 2hrs or more trying to solve this part and in the end they are too exhausted to attempt Section B and moral and motivation is gone!
I am saying this because ,how many times have we been asked to stop writing by the invigilator and you quickly flipped through the rest of the question paper and said to yourself " I could have answered that , this is easy", well time to change your strategy now.
Tip No2 - know your IASs, IFRS and your EDs am sure you do by now, as you will be tested in this area and the application is very important too, most candidates struggled with the application . Think before you write anything don't panic , for example if you think for 5mins and write for 1min to get 3marks or you prefer to think for 1min and write 5mins of rubbish and earn no mark at all, what would you prefer, so relax ,loosing up and think.
I only completed 75-80% of this paper and I passed, guess what, the part I answered was well polished .
Tip No3 - Your section B question selection is also very important as this will determine if you will pass or fail. Only select those questions with those IFRS in which you are strong, you will need to analyse this and most importantly advise the entity and make recommendations too, don't be afraid to do this you will earn marks even thought your advise is right or wrong.
Tip No4 - Show all your workings as the Examiner want to see this.
I hope this advise helps and Good luck!
edna if u having trouble give me your number i ll add u to the group